Good essay from @C_Harwick on mathematical models in economics and the illusion of precision:https://cameronharwick.com/blog/precise-theories-arent-more-falsifiable/ …
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I agree with the basic point, but degrees of freedom aren’t the only concern. As Krugman puts it, verbal explanations can make a story seem like it must be true, while math models make it clear it only might be true https://web.mit.edu/krugman/www/dishpan.html …
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Totally 110% agree -- this isn't an argument for verbal models dominating mathematical models (as Cameron writes); it's just an argument for wariness on an aspect of formal models that people often miss
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